Debt Risk Awareness

Tony Devenish: Do you agree with what Stella Creasy MP said in the Times last month, that retailers such as Klarna, Clearpay and Laybuy "shouldn't trivialise debt or encourage people to borrow without thinking if they can afford it"? Will you use the TfL network to run a public information campaign to communicate to Londoners the risks of such debt?

The Mayor: With more and more Londoners being forced to turn to credit just to afford the basics during the pandemic, it’s essential that firms that offer consumer credit of any type, whether regulated or unregulated, do so responsibly.
It’s also important that Londoners who are struggling with debt have access to free and impartial expert advice. I’ve already been using City Hall resources to signpost Londoners to Debt Free London via London.gov.uk and I’ve been supporting the partnership in reaching out to London’s most deprived households. TfL’s commercial advertising estate remains available should any national campaigns to tackle these issues be developed.

TfL Advertising (2)

Andrew Boff: In the light of the impact of Covid-19 on TfL's advertising revenue, are there any plans to review any policies which currently restrict the types of advertising permitted on the TfL network?

The Mayor: There are currently no plans to review Transport for London’s (TfL) existing advertising policy. TfL’s focus is on working with its key advertising partners to rebuild its advertising revenue streams following the impact of coronavirus on the industry.